Chainlink (LINK) is currently trading at $8.22, reflecting a 24-hour change of -4.84%. The daily price range has been relatively tight, with a high of $8.69 and a low of $8.19, indicating limited volatility in the short term.

The volume of 375,862,817 LINK corresponds to a trading volume relative to market cap of 6.46%, suggesting moderate trading activity. The hourly moving averages show a bearish trend, with all key SMAs (8, 13, 21, 55, and 144) trading below current prices, indicating downward pressure on the asset.

The 1-hour RSI is at 48, which suggests that LINK is neither overbought nor oversold, while the 7-day RSI at 44 indicates a slightly oversold condition. Price performance over the past week has been poor, with a 7-day change of -6.19% and a more substantial 30-day decline of -32.57%, signaling ongoing selling pressure.

Technically, LINK's performance shows a lack of bullish momentum, as indicated by the declining moving averages and the current position of RSI indicators. Furthermore, the significant gap from its all-time high of $52.70 reached in May 2021 reflects a long-term downtrend that may deter new buyers.

Given the technical indicators, coupled with a weak price trend and no immediate signs of recovery, the recommendation for Chainlink (LINK) is a Sell. The combination of persistent downward movement and unfavorable RSI readings suggests further price deterioration could be expected in the near term.